Parkside Financial Bank & Trust Purchases 159 Shares of ResMed Inc. (NYSE:RMD)

Parkside Financial Bank & Trust boosted its position in ResMed Inc. (NYSE:RMD) by 65.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 403 shares of the medical equipment provider’s stock after acquiring an additional 159 shares during the period. Parkside Financial Bank & Trust’s holdings in ResMed were worth $69,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. National Wealth Management Group LLC bought a new position in ResMed in the fourth quarter valued at about $477,000. Illinois Municipal Retirement Fund boosted its holdings in ResMed by 33.7% in the fourth quarter. Illinois Municipal Retirement Fund now owns 72,893 shares of the medical equipment provider’s stock valued at $12,539,000 after acquiring an additional 18,368 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new position in ResMed in the fourth quarter valued at about $206,000. Handelsbanken Fonder AB boosted its holdings in ResMed by 22.5% during the fourth quarter. Handelsbanken Fonder AB now owns 70,272 shares of the medical equipment provider’s stock worth $12,088,000 after buying an additional 12,899 shares during the last quarter. Finally, CWM LLC boosted its holdings in ResMed by 14.6% during the fourth quarter. CWM LLC now owns 4,448 shares of the medical equipment provider’s stock worth $765,000 after buying an additional 567 shares during the last quarter. Institutional investors own 54.98% of the company’s stock.

ResMed Trading Down 0.2 %

NYSE RMD opened at $183.43 on Friday. The stock has a market capitalization of $26.98 billion, a price-to-earnings ratio of 30.32, a PEG ratio of 2.25 and a beta of 0.67. The stock’s 50 day moving average price is $186.31 and its two-hundred day moving average price is $171.47. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.89 and a current ratio of 3.11. ResMed Inc. has a 52 week low of $132.24 and a 52 week high of $243.52.

ResMed (NYSE:RMD) last announced its quarterly earnings data on Thursday, April 25th. The medical equipment provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.91 by $0.22. ResMed had a return on equity of 23.86% and a net margin of 19.77%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.17 billion. During the same quarter in the prior year, the business posted $1.68 EPS. The business’s revenue was up 7.2% compared to the same quarter last year. As a group, analysts anticipate that ResMed Inc. will post 7.47 earnings per share for the current fiscal year.

Insider Activity at ResMed

In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Peter C. Farrell sold 10,935 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $182.66, for a total value of $1,997,387.10. Following the sale, the director now owns 157,404 shares in the company, valued at approximately $28,751,414.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Michael J. Rider sold 200 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $173.25, for a total value of $34,650.00. Following the completion of the sale, the general counsel now owns 6,688 shares in the company, valued at approximately $1,158,696. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,216 shares of company stock worth $2,046,617. Company insiders own 1.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Needham & Company LLC raised their target price on ResMed from $215.00 to $224.00 and gave the stock a “buy” rating in a report on Monday, April 1st. KeyCorp assumed coverage on ResMed in a report on Tuesday, February 6th. They set an “overweight” rating and a $227.00 target price on the stock. Royal Bank of Canada raised their target price on ResMed from $181.00 to $182.00 and gave the stock a “sector perform” rating in a report on Thursday, January 25th. Oppenheimer lifted their price objective on ResMed from $185.00 to $205.00 and gave the company an “outperform” rating in a report on Tuesday, January 30th. Finally, JPMorgan Chase & Co. lifted their price objective on ResMed from $160.00 to $195.00 and gave the company an “overweight” rating in a report on Tuesday, January 9th. Four analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $199.20.

ResMed Profile

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. It operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including technologies to be applied in medical and consumer products, ventilation devices, diagnostic products, mask systems for use in the hospital and home, headgear and other accessories, dental devices, and cloud-based software informatics solutions to manage patient outcomes, as well as provides customer and business processes.